GBPUSD – Flat
Technical observation
GBP/USD retraced to the just broken resistance line1.3076, it could not penetrate below it and was rejected then rose steadily towards 1.3284.Right now price is correcting to the support 1.3076 and I expect a rejection of it from the line for bullish momentum towards 1.3284.My advice, long GBP at 1.3076 with your take profit at 1.3284 and stop loss around 1.3040.In case of a breakout above the resistance zone 1.3300-1.3284,wait for a correction to it to confirm bullish momentum of price before you continue long with the pair. Right now wait for the correction to 1.3076 then long GBP at it with your ideal target at 1.3284.
Technical levels
Resistance levels
R1.1.3158
R2.1.317
R3.1.3193
Pivot
1.3148
Support levels
S1.1.3135
S2.1.3123
S3.1.3099
Trade signal
Long GBP at 1.3076 with your take profit at 1.3284 and stop loss around 1.3040.
Do you know against which currencies GBP is the most profitable?
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